Worldcoin Drops 11.14% as Whales Sell 49M Tokens

Worldcoin's latest price was $1.66, down 11.143% in the last 24 hours. This significant drop has been attributed to large holders, or whales, selling off their tokens. Whale addresses holding between 1 million and 10 million WLD have sold over 49 million tokens in the past 48 hours. This selling behavior is indicative of profit-taking, as these whales have been influential in shaping recent market moves. Despite the sell-off, these whale wallets still control around 938 million WLD, making them a crucial factor in future price action. If they continue to liquidate their holdings, the selling pressure could outweigh bullish sentiment from smaller traders, potentially preventing WLD from maintaining its recent gains.

Worldcoin's macro momentum is showing signs of strain, with technical indicators flashing caution. The Relative Strength Index (RSI) is currently in the overbought zone, signaling that the asset has hit a saturation point. This condition typically precedes market corrections as investors look to exit at higher prices. The recent selling by whales aligns with these technical signals, suggesting that more profit-taking could occur if the RSI continues to hover in overbought territory, potentially leading to a price reversal in the short term.

Worldcoin has experienced a remarkable rally, increasing by 124 percent in a week. The gains have stabilized around the key resistance at $2.02, drawing significant market interest. The token's strong support at $1.19 has provided a major floor, driving the bullish trend and preventing deep pullbacks. The sustained buying interest behind the rally is evident in the breakout on the seven-day chart, which supports the continued upward momentum.

Beyond its U.S. dollar valuation, Worldcoin has shown notable outperformance against leading cryptocurrencies. The token has increased by 54.9 percent against Bitcoin and 54.6 percent against Ethereum, underscoring the widespread demand for WLD. This simultaneous strength against major digital assets adds credibility to the trend, highlighting the broad-based momentum behind the rally.

In the near term, Worldcoin's price structure is defined by support at $1.19 and overhead resistance at $2.02. The token has been active in this band, with market players closely watching as the price touches the upper limit. The 24-hour range indicates increased volatility and tightening around resistance, which is typical in a breakout situation. The key question for Worldcoin's future course is whether it can break through the resistance or revert to support, with traders closely monitoring its ability to sustain its remarkable breakout.